On May 19, 2017, the U.S. Securities and Exchange Commission announced the temporary suspension of two marijuana stocks that trade on the OTC Markets, with both orders of suspension related to the companies neglecting to provide accurate and up-to-date information.

The SEC has suspended trading of Eco Science Solutions, Inc. (OTC:ESSI), a Hawaii-based alternative wellness tech company, from May 22 to June 5. The suspension is the result of a questionable press release issued by Eco Science Solutions on May 5 regarding the company’s announcement that it had signed a letter of intent to acquire Ga-Du Bank, Inc., with the bank aiming to potentially provide banking services to the marijuana industry.

The SEC has suspended trading of the Holy Grail Company (OTC:HGRL), a manufacturer and distributor of Holy Grail Hemp Lifestyle products based in Temecula, Calif., from May 22 to June 5 for a lack of company information made available to the public, particularly regarding the company’s controlling interests.

On May 22, Holy Grail issued a press release indicating that it’s in the process of filing Form 10, also known as the General Form for Registration of Securities, but it did not specifically address the trading suspension.

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California Insurance Commissioner Dave Jones has been on a mission to ensure state-legal cannabis businesses have commercial insurance coverage and with his announcement of the first California cannabis surety bond program on Feb. 21, 2018, he continues to make progress.

More strife is on the horizon for Ohio’s troubled medical cannabis program. On Feb. 20, 2018, a group of unsuccessful medical cannabis applicants, led by Jimmy Gould of CannAscend Ohio LLC, filed a lawsuit challenging the state’s medical cannabis licensing process.

While the province of Newfoundland and Labrador has its key policies in place for recreational legalization and has secured a supply agreement with Canopy Growth Corporation (TSX:WEED) to provide cannabis for the province, it is now ready to hear from prospective cannabis retailers.

MJINews was started to aggregate, report and opine on various ways to make money in the legal marijuana industry. While medical marijuana has been legal in many states for years, its legalization for recreational use in Colorado and Washington in 2014 has catapulted the entire subject to new heights.
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